Wednesday, 08 December 2021

Millennium Global acquires 49% ownership in Vietnamese aqua foods firm Paseco

16 June 2017 | News

Through Paseco, Millenium Global expects to gain additional international exposure with an added base within Asia

Millennium Global Holdings Inc, a seafoods product maker in the Philippines, has completed its acquisition of a 49 per cent ownership and control in Vietnam-based Pacific Seafoods Company Limited (Paseco).

It made the acquisition from Vo My Duyen, a sole member and owner of Paseco, a non-stock Vietnamese enterprise primarily engaged in aqua foods and products processing and preservation.

Duyen sold his shares for $755,114 (17.150 billion Vietnamese Dongs). The amount is based upon 49 per cent of Paseco’s chartered capital of 35 Billion Vietnamese Dongs.

Formerly a tech company known as IPVG Corp, Millenium Global shifted its business as a general holding company in 2013. It now trades in marine and other related products through one of its subsidiaries Millennium Ocean Star Corp, a producer and exporter of frozen seafood and aquaculture products such as black tiger shrimps, frozen lobsters, and kisu fillet.

Through Paseco, Millenium Global expects to gain additional international exposure with an added base within Asia.

Millenium Global in a statement said, “Freezer, automatic fryer, washing machine, flake ice maker, metal detector, IQF machine, cold storage, vacuum packaging, etc, and the opportunity to penetrate a wider market.”

 

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